Second Meeting Of Creditors Of Company Under Administration
Bondstrong Pty Ltd
The purpose of the meeting(s) is:
- to receive the report by the Administrator(s) about the business, property, affairs and financial circumstances of the Company(ies); and
- to receive a statement of Administrator(s) opinion and reasons for the opinion:
- whether it would be in the creditors ' interests for the Company(ies) to execute a deed of company arrangement;
- whether it would be in the creditors ' interests for the administration to end;
- whether it would be in the creditors ' interests for the company to be wound up;
- to receive a statement of such other information known to the administrator as will enable the creditors to make an informed decision about the matters at paragraphs 2(a) (c) above;
- to receive details of any transactions that appear to the Administrator(s) to be a voidable transaction in respect of which money, property, or other benefits may be recoverable by a liquidator under part 5.7B of the Act
- to receive details of any proposed deed of company arrangement; and
- for the creditors of the Company(ies) to resolve that:
- the Company(ies) execute a deed of company arrangement; or
- the administration(s) should end; or
- the Company(ies) be wound up.
Other agenda items are:
1. For creditors to resolve that:
(a) The Company should execute a Deed of Company Arrangement (DOCA);
(b) The Company should be wound up (ie. placed into liquidation); or
(c) The Administration should end.
2. If the Company is placed into liquidation, for creditors to resolve to appoint the Administrator as Liquidator of the Company.
3. For creditors to resolve to approve the Administrator?s remuneration pursuant to Section 449E(1)(b) of the Act.
4. For creditors to resolve to approve the future remuneration of the Deed Administrator or Liquidator, if one is appointed.
5. If the Company is placed into liquidation, and if appropriate, appoint a Committee of Inspection.
6. Pursuant to Section 477(2A) of the Act, to authorise the Liquidator to be able to compromise debts in excess $100,000.
7. Pursuant to Section 477(2B) of the Act, to authorise the Liquidator to enter into litigation funding facilities to pursue any legal actions including voidable and insolvent transactions arising from the liquidation.
8. Pursuant to Section 542 of the Act, to authorise the Liquidator to be able to destroy the books and records of the Company within a period of six (6) months after the dissolution of the Company, subject to obtaining prior approval from the Australian Securities & Investments Commission.
9. Any other business.